Automated Regulatory Compliance in Insurance
This paper ‘Automated Regulatory Compliance in Insurance’, reviews the application of technology to support automated regulatory compliance (RegTech) in banking and capital markets and explores the opportunities for similar application of RegTech in insurance. It compiles our key insights and principal supporting evidence that we could find from public domain sources.
We draw on the experience of banking and capital markets to examine the barriers and enablers to the adoption of RegTech in automating regulatory compliance. We assess the potential benefits of RegTech in insurance over the next decade or more; and against this backdrop identify some of the most promising first opportunities to the adoption.